Corporations Act 2001
Note: This Part does not apply to a CCIV or a sub-fund of a CCIV: see Division 4 of Part 8B.6 .
View history note
Hide history noteA company may, by writing, appoint a small business restructuring practitioner for the company if: (a) the eligibility criteria for restructuring are met in relation to the company on the day the appointment is made; and (b) the board has resolved to the effect that:
(i) in the opinion of the directors voting for the resolution, the company is insolvent, or is likely to become insolvent at some future time; and
(ii) a restructuring practitioner for the company should be appointed.
453B(2)
A company must not appoint a restructuring practitioner under subsection (1) if: (aa) the company is, or is a related body corporate of, a body regulated by APRA (within the meaning of the Australian Prudential Regulation Authority Act 1998 ); or (a) the company is already under restructuring; or (b) the company has made a restructuring plan that has not yet terminated; or (c) the company is under administration; or (d) the company has executed a deed of company arrangement that has not yet terminated; or (e) a person holds an appointment as liquidator, provisional liquidator or administrator of the company.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
